Budget electric 2026 Chery E5 SUV gets a sharper drive-away price to battle BYD Atto 3 and Geely EX5

Chery Australia has introduced a sharp drive-away deal for its E5 electric compact SUV, while discontinuing the previous entry level variant.

The E5 will now start from $37,990 (drive-away), coming in a single variant called the Ultimate, which used to top the range, meaning the base Urban grade is no longer available. 

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The new E5 drive-away deal will be available until the end of the financial year. 

The deal means the E5 is now more affordable than many of its rivals, including the BYD Atto 3 and the Geely EX5, with the latter recently experiencing a small price bump. 

The E5 now comes as standard with all off the model’s premium features such as a sunroof and synthetic leather upholstery along with heated front and rear seats.

Other upgrades on the Ultimate include a heated synthetic leather steering wheel, ambient lighting and a 50W wireless phone charger as well as a premium sound system.

It is powered by a single electric motor, which produces 155kW and 288Nm, along with a 68kWh battery offering a driving range of 430km. DC charging on the E5 from 30-80 per cent takes less than half an hour. 

Chery pulled a similar pricing move with its luxury sub-brand Jaecoo on the J7 SUV, which was offered with a cheap drive-away price until the end of February, following the base variant being cut.

The brand has had a bumper start to 2026 climbing into the top 10 selling brands for March 2026, led by the success of the Tiggo 4 compact SUV.

Chery will launch several new models in Australia in the coming months, including the much-anticipated diesel plug-in hybrid ute codenamed the KP31.